SYDNEY, Aug. 14, 2017 /PRNewswire/ -- At 09:00 UTC on Monday 14 August, Sydney based start-up Veredictum launches the
token sale for its ground breaking decentralized anti-piracy and
distribution platform for the film and video industry.
The Ventana token sale aims to achieve widespread acceptance
within the film and video industry using blockchain-based
technologies to register video and film ownership rights, and to
add detectable fingerprints to content so digital ownership can be
tracked.
It will also bring content producers closer to consumers and
provide greater access to quality content at price points that are
competitive and fair. Veredictum believes it will reduce film and
video piracy by 80% over 10 years.
Founder of Veredictum, Tim Lea,
says the Veredictum platform centres on targeting the drivers of
piracy and theft holistically rather than just its symptoms.
"Piracy is not just one person's problem; it's everyone's," says
Lea. "Our objective is to galvanise the creative community to solve
the biggest problem that is facing the industry's survival."
The Veredictum user base, use their surplus bandwidth and
computing power to form a powerful global network of machines that
perform global searches for registered content. Thanks to an
incentive model, users will be rewarded for providing the
infrastructure.
"Whilst there is a natural incentive for creatives to want to
resolve the problem, from a pragmatic point of view we also need to
economically incentivise the community to work with us. These
payments are made using our cryptocurrency, Ventana. Users can earn
Ventana while they sleep," says Lea.
Members of Veredictum's global community function similarly to
bitcoin miners. The more registered content they locate and the
more bandwidth they provide to support, the more Ventana they can
earn. After the Token Sale has completed, Ventana is expected to be
converted to Bitcoin within a couple of weeks.
Veredictum's ultimate objective is to provide the infrastructure
for easier access to content. The model connects producers directly
to influencers and their tribes, creating a marketplace where users
collectively bid for the content they wish to view, with the
Veredictum infrastructure distributing and watermarking the
content.
Launching today, the token sale has a core target raise of
US$7.5m and a hard cap stretch target
of US$20m.
Veredictum's business and crypto-economic models detailing the
platform and token sale can be downloaded from
https://tokensale.veredictum.io/